Common use of Intellectual Property Rights of the Parties Clause in Contracts

Intellectual Property Rights of the Parties. The Parties agree that any grant authorizing either party to utilize any copyrighted or trademarked material(s) from the other party shall be conditioned on the use of said materials in accordance with the terms of this Agreement. Furthermore, both Parties agree that all right, title, interest and Intellectual Property Rights attributable to all material(s) shall remain owned solely and exclusively by that Party at all times, and shall not be deemed to have been assigned to the other Party under any circumstances. Parties shall retain ownership of all components, content and intellectual property to which that Party possessed ownership prior to the commencement of this Agreement. All rights in the Parties copyrighted and trademarked material(s), including but not limited to Confidential Information, trade secrets, trademarks, service marks, patents, and copyrights are, shall be and will remain the property of that Party. Both Parties acknowledge that the information and/or material(s) provided to the other Party to effectuate the completion of this contracted project and the terms of this Agreement contain proprietary and Confidential Information of that Party. Therefore, the Parties agree to keep said information and material(s) in confidence and to take all reasonable precautions to ensure that no unauthorized persons have access to said information or material(s) and that no unauthorized copies are made. Either Party's breach of this Section 5.3 shall be considered a material breach of this Agreement.